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Best Markets for Highest Rent Growth
We now track, analyze and score median rents paid for Single Family Residential (SFR) properties. We also compute the rental growth RATES for virtually all State, City, County and Zip Code level markets.
We then score and rank each market based on its rent growth and compare it to where it is in its appreciation cycle.
Below is our STATE LEVEL Rent Growth tool, ranked by the highest rent growth rates over the last 3 years.
As you can see above, some of the previous high-flying markets like California, Oregon and Texas rank in the Top 10 for rent growth, but have relatively weak hot market scores (pink or red color in the column to the left).
While rent growth is generally higher in hot markets, it’s a lagging indicator; our Hot Market Score (and other tools) will spot changing market conditions long before you see it in the rent growth. In the case of CA, OR and TX, those markets started losing momentum in the last year or two; it’ll take a while for that to start showing up in the rental growth rate.
Below is the same State-level tool, but now ranked from WORST to Best.
It’s not surprising these weak state-level markets also have the lowest rental growth rates.
We can do the same type of rent growth analysis and ranking at the Metro level. Here’s a list of the Top 10 Rent Growth Metro markets (w/ a population over 200k).
Using the State or Metro level gives you a great starting point when trying to find markets with high rent growth. With our new Rent Tracker tool, you can now drill down into specific counties and zip codes with a few clicks!
Below is a screenshot of the Top 10 Rent Growth counties with a population greater than 150k.
The screenshot below drills even deeper, looking at the hottest ZIP CODES (w/ population over 20k) in Colorado.
Before entering any new market you should know what’s happening with rental demand; its an important part of your Due Diligence (DD) process.
With our new Rent Growth Tracker, you can do all that DD in a couple clicks, and a whole lot more.
Imagine if you could combine rent growth, along with property values, cash flow, appreciation and market risk into a single model that tells you exactly when and where to invest, or flip… and when you should run away as fast as you can?
Would it be helpful to have all those factors built into a single market selection process (down to the micro market level)?
Well, imagine no longer, it’s here!
The Rent Growth Tracker is (currently) included at no additional cost with every PRO account.
If you’re blown away by this new tool and want to grab a HousingAlerts account now, you can simply CLICK HERE to become a member.
Nationwide, we track and compare home prices against local market strength for more than 3,000 counties, 18,000 zip codes and 53,000 neighborhoods.
A single city PRO account works out to about $16/mo when you choose the Annual plan. You can also select MULTIPLE Cities, States or even go Nationwide to scan, score & rank EVERY County, Zip and Neighborhood!